Los Angeles daily herald., 1887-03-14
MILLIONS in 1T.
Progress of Pasadena in
the Past Year.
OVER SIX MILLION DOLLARS
Expenditures Of Capital in the
Crown of the Valley in a
TwelvemOnth.

pOrtant Improvement durlng the pas
year than Pasadena. Within tvely,
months not less than So. 900, 900 have
been expended in this little settlement
in the purchase of lands, lumber, brick
lime, hardware, street railway iron and
cars, grading OF streets, erection Of
houses, making Of sidewalks, building
of large lumber manufactures, the cree
ticn OF gas works. great fruit storage
warehouse, a fruit cannery, and the
erection and completion of half dozen
hotels, the construction OF six street rail.
ways and the establishment of two banks
and the erection of new pos, s,otfice
building, three churches and the finest
and best arranged public school build.
ing in the State.
BANKS OF PASADENA.
The First National Bank, with a capi.
tai stock of 100000, P. M. Green, Pres.
ident, j. E. Farnum, Cashier, had on
December l, 1886, resources, S6S4,
'042. 40, and individual deposits, $685.
-6l4 Al. 1t is doing an immense and
profitable business.
The San Gabriel Valley Bank was
established May %, 1856. Its orig.
inal officers were Frank M. Ward,
of the well-kn ,wn firm of Ward
Bros, az President, Alonzo Tower, Vice.
President and B. w. Bates, as CASHIER.
The capital was $4,000. The first Di-
rectors were Frank NJ. Ward, j. G.
Miller, C. S. Martin, Alonzo Tower,
Byron w. Bates, w. r. E. Ward, Ly.
man A. Craig. This bank occupied room
in the Ward Bros. Block fitted up spec.
tally for it. After establishing a good
business, several leading capitalists and
Business men became interested in this
institution, and October l, 1886, re.
organization was effected, MIR. Ward
having resigned sometime previous,
on leaving for Europe for his health.
Under the new organization the off
GERS are II. w. Magee, President; j.
w. Hugus, Vice.P President, and B. w.
Bates cashier. The principal stockhol-
ders are II. w. Magee, j. w. Hugus,
3 W. Bates, c. r. Hopkins, c. c.
Brown. c. s. Martin. G. L. Heharry,
r. Williams, j. w. Wood, w. o. Swan,
Jr., r. X. James and A. J. Wallace.
The statement of the bank made
January l, 1887, shows remarkable
prosperity. II show, resources of $l92,.
900. OF aud individual deposits of $l6l.,
.774.76. The bank is also building
handsome block of three stories on the
corner of East Colorado street and Fair
Oaks avenue, the first floor of which it
will occupy in few days.
The Pasadena National Bank is the
youngest and one of the most prosper
Gus banks of that city. Il was organ.
lied February Is, 1856, but did not open
its doors for business until October, 1856.
1t occupies rooms in the Exchange Bank,
specially fitted up for its use. These are
elegant and complete in all departments,
being equal in all respects to most
metropolitan institutions. The Off
GERS are 1. w. Hellman, President;
E. F. Spence, Vice.President, and
q. A. Swartwout, Cashier. The first
named gentlemen are Presidents respec.
lively of the Farmers and Merchants
and First National Banks Of Los Angeles.
Their eminence in the financial circles OF
Southern California are too well known
to require any extended mention. The
active management of the bank devolves
upon Mr.. Swartwout. After only four
months in business this bank has de-
posits aggregating over $l40,000. Its
capital is $50, 200, all paid up. The di-
rectors are 1. w. Hellman, Z. f. Spence,
VIM. Converse, G. H. Converse and G.
A. Swartwout.
Auo her bank is to be started by Hon.
Casper 7. Hopkins, formerly President
of the California Insurance Company, of
San Francisco. but for the past six years
a resident of Pasadena. He is erecting
a large, massive brick building for h,s
banking business on Fair Oaks avenue, a
few doors north of Colorado street. 1t
will be completed in few weeks.
The First National Bank is finishing
the most ornamental building in the city
on the northeast corner of Colorado
street and Fair Oaks avenue. 1t is of
brick, with solid granite front, three
stories high, surmounted by dome. All
the outside ornamental work is Of gal
vanized iron.
The San Gabriel Valley Bank will
soon complete massive building for its
use on the southeast corner of FAIR Oaks
avenue and Colorado street. The struc-
ture is of granite and brick.
These three buildings will be great
ornament and an honor to the city OF
Pasadena. The deposits in the banks of
thecity now amount to over 81 900, 900,
and show what may be expected in
the accumulation of wealth in this
delightful and prosperous town.
THE HOTELS OF PASADENA.
In the number of hotels Pasadena ex.
GELS all the suburban towns of Los AN
.geles. Within a few months the great
Raymond Hotel, the pride of Southel n
California, and the largest on the Pacific
Coast, outside of San Francisco, has
been completed. In all its appointments
it is second to none in the United States,
while it's commanding situation is the
admiration of everybody. Since the
opening of this great, grand hotel, No
vember II, 1886, it has received and en-
tertained 25, 900 guests.
The new and elegant Carleton was
opened January 4, 1887. 1t was the re.
suit of the great energy and taste oi
General Edwin Ward, in connection
with E. c. Webster, G.. A. Swartwout
A. Cruickshank and r. Little. This gem
of a hotel is one of the most admirably
furnished in tho State. Mr.. K. w.
Root, Of the Grand Central in New York
is the manager, and with his trained
and skilled witers from that hotel, con
ducts it in a model manner. His family
tables, with spirit.heated coffee urns, are
a luxury to those who linger at break
fast and enjoy fresh, fragrant Java tt
their hearts content
At the Grand Hotel, Will Beach, the
manager, gives most cosy, homeiike
entertainment, and is never weary il
well doing. He is everywhere present
has excellent accommodations for guests
and always full larder of good things
The list OF hotels is long, and beside!
the Raymond, the Carlton and th'
Grand, the Los Angeles, the Arroy'
Vista, Carmelita, Chicago Lawn, Crown
Villa. Pasadena Villa, Pasadena House